M&A Deal Summary

Titan Machinery Acquires O’Connors

On August 30, 2023, Titan Machinery acquired distribution company O’Connors for 63M USD

Acquisition Highlights
  • This is Titan Machinery’s 6th transaction in the Distribution sector.
  • This is Titan Machinery’s largest (disclosed) transaction.
  • This is Titan Machinery’s 1st transaction in Australia.

M&A Deal Summary
Date 2023-08-30
Target O’Connors
Sector Distribution
Buyer(s) Titan Machinery
Deal Type Add-on Acquisition
Deal Value 63M USD

Target

O’Connors

Horsham, Australia
O’Connors is a Case IH dealership group that delivers new and used equipment, parts, and services through its 15 dealerships and 1 parts location located in the Australian southeastern grain belt, which includes the regions of Victoria, New South Wales, and South Australia. The company is a distributor for more than 25 short-line equipment brands, providing an impressive range of complementary offerings to its core Case IH line of products, and has a strong parts and service business that provides a reliable recurring revenue stream. O’Connors is based in Horsham, Australia.

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Buyer(S) 1

Buyer

Titan Machinery

West Fargo, North Dakota, United States
Category Company
Founded 1980
Sector Retail
Employees3,338
Revenue 2.2B USD (2023)
DESCRIPTION

Titan Machinery is an owner and operater of a network of full service agricultural and construction equipment stores in the United States and Europe. The Titan Machinery network consists of 97 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, Colorado, Arizona, and New Mexico, including three outlet stores, and 16 European dealerships in Romania, Bulgaria, Serbia, and Ukraine. Titan Machinery was founded in 1980 and is based in West Fargo, North Dakota.

DEAL STATS #
Overall 21 of 22
Sector (Distribution) 6 of 7
Type (Add-on Acquisition) 21 of 22
Country (Australia) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-02 Heartland AG Systems

Ames, Iowa, United States

Heartland AG Systems provides CASE IH Application Equipment distributorship in North America and one of the leading national distributors for sprayer parts and accessories to co-operatives and farm service providers. Heartland AG Systems was founded in 2019 and is based in Ames, Iowa.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Scott Supply

Mitchell, South Dakota, United States

Scott Supply is a supplier of tractors, planting and seeding equipment, application equipment, harvesting, tillage, hay and forage equipment. Scott Supply is based in Mitchell, South Dakota.

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